Lunchtime Links: Huge redundancies at Bank of Lynch, juniors go at CS, Dimon dismisses depression

yesididgetadegree

I agree with you, that explains why these "legions of marketers/traders and sales people" you referred typically rely on their unguided paths of reasoning to make poor and senseless decisions. On the other hand, if one manages to get a well structured tertiary education which efficiently imparts the skills and knowledge relevant to the discipline, then tertiary education becomes of use, and your argument becomes flawed. Depending on a number of factors including, the nature and quality of the degree you have, you may agree or disagree with my argument

tertiary education is often used purely as a means of occupying teenagers, and rarely can it be suggested ( i do mean in the financial world !!) that a tertiary education is of any real benefit to the legions of marketers/traders and sales people who come out with little of use

industryvet, put those glasses back on, after all, they are meant to correct your myopic vision. If you speak to recruiters in the engineering industry, for example, they keep pointing to a massive gap of skills and knowledge, which resulted from a period of inactive engineering recruitment in 80's.
Lemme explain, the quality of current-trained british engineers is substandard, because the high calibre engineers of the previous generation are retiring without efficiently imparting the vast amounts of knowledge acquired to their successors. To me and you, that means a wobbly milenium bridge, terminal 5, and other poorly executed engineering projects which will probably occur on a more frequent basis in future.
If this example is extrapolated into the financial world, as you suggest, we hate to think what would happen, i.e. economic depressions triggered by incompetent decisions and actions ...... but then, all that is already happening.
By the way your idea, about the "smart 18yr old", .... tertiary education exists for a reason

Starsky..In the words of an experienced City Financier that i know..you are a turd !! And that makes you ideally suited to your current role which i hazaard is a million miles away from the Trading role that you suggest.
I have little doubt that i started work in the City a couple of decades before you fished your .... M Fin. I have seen any number of stars and potential stars being let go..and that was wll before we ended up in this position. I recommend to most that they keep their heads down as there are plenty of people out of work probably better qualified and tested at their roles than they are who would do the role for a fraction of the remuneration now being paid

Starky, seriously, you're a clueless out-of-touch baby boomer. You belong to a category of sycophants who will supress the talented in favour of what you call experience i.e. a constant and consistent repitition of mistakes. This is why we have an ailing financial system which is bound to remain so, and may even possibly plunge further, with people like around. Unfortunately, people like you who are clearly better at playing the system than doing your job tend to be the benefactors, after all, apparently, you still have a job in what are perceived to be difficult economic circumstances. Anyway just a thought to be considered .....

It emerged over the past week, that an arrogant man (with the ability to play internal office politics and bedazzle fickle-minded clients, just like you do) posed to be an intelligent and competent asset manager, and successfully convinced the affluent and greedy to invest in his hedge fund for high returns. In an increasingly complex market, his low IQ started to catch up with him, making heavy losses and poor returns in the process.
At present, he's facing a $50 billion fraud charge. He's sounds like a perfect role model for you..... Good Luck